SIP-2041: List PYTH on Synthetix Perps
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Network | Optimism |
| Implementor | TBD |
| Release | TBD |
| Proposal | Loading status... |
| Created | 2023-11-27 |
Simple Summary
List Pyth Network Token on Synthetix Perps
Abstract
This is proposal to list PYTH perpetual futures on Synthetix Perps.
Motivation
As a way to remain competitive, Synthetix should list new futures for traders to have exposure or hedge on Synthetix.
Specification
The market data retrived from Coingecko at 2023-11-27
| Exchange | Symbol | Price | Index Price | Basis | Spread | Funding Rate | Open Interest | 24h Volume |
|---|---|---|---|---|---|---|---|---|
| KuCoin Futures | PYTHUSDTM | $0.42 | 0.42 USDT | +0.100% | 0.07% | 0.035% | $4,256,957 | $10,234,561.85 |
| MEXC (Futures) | PYTH_USDT | $0.42 | 0.42 USDT | -0.119% | 0.02% | 0.046% | $4,217,112 | $15,183,644.14 |
| Binance (Futures) | PYTHUSDT | $0.42 | 0.42 USDT | +0.137% | 0.07% | 0.043% | - | $126,701,793.69 |
| Bybit (Futures) | PYTHUSDT | $0.42 | 0.42 USDT | -0.191% | 0.02% | 0.073% | - | $83,626,917.17 |
| OKX (Futures) | PYTH-USDT-SWAP | $0.42 | 0.42 USDT | -0.048% | 0.02% | 0.034% | - | $56,512,105.86 |
| BingX (Futures) | PYTH-USDT | $0.42 | 0.42 USDT | -0.071% | 0.02% | 0.110% | - | $39,691,335.37 |
| Bitget Futures | PYTHUSDT_UMCBL | $0.42 | 0.42 USDT | -0.376% | 0.1% | 0.075% | - | $19,531,758.88 |
| Gate.io (Futures) | PYTH_USDT | $0.42 | 0.42 USDT | -0.074% | 20.0% | 0.010% | - | $9,853,374.59 |
| Phemex (Futures) | PYTH-PERPUSDT | $0.42 | 0.42 USDT | -0.125% | 0.17% | 0.048% | - | $8,004,764.11 |
| OrangeX Futures | PYTH-USDT-PERPETUAL | $0.42 | 0.42 USDT | -0.072% | - | 0.045% | - | $5,875,567.57 |
| Blofin | PYTH-USDT | $0.42 | 0.42 USDT | 0.000% | 0.02% | 0.036% | - | $4,138,567.59 |
| Flipster | PYTH-USDT.PERP | $0.42 | 0.42 USDT | -0.119% | 0.05% | 0.021% | - | $2,492,747.22 |
| Hyperliquid | PYTH-USD | $0.42 | 0.42 USD | -0.067% | 0.05% | 0.040% | - | $2,446,839.90 |
| HTX Futures | PYTH-USDT | $0.42 | 0.42 USDT | -0.363% | 4.65% | 0.015% | - | $1,400,258.36 |
| Aevo | PYTH-PERP | $0.42 | 0.42 USD | 0.000% | 0.05% | 0.004% | - | $1,000,358.79 |
| Bitrue (Futures) | PYTH-USDT | $0.42 | 0.42 USDT | -0.095% | 0.95% | 0.043% | - | $862,718.63 |
| Drift Protocol | PYTH-PERP | $0.42 | 0.42 USDC | 0.000% | - | 0.004% | - | $589,428.82 |
| WOO X (Futures) | PERP_PYTH_USDT | $0.42 | 0.42 USDT | -0.152% | 0.07% | 0.017% | - | $398,064.07 |
| Helix (Futures) | PYTH/USDT PERP | $0.42 | 0.42 USDT | -0.238% | 1.02% | 0.017% | - | $291,151.15 |
| BTSE (Futures) | PYTH-PERP | $0.42 | 0.42 USD | +0.326% | 4.16% | 0.045% | - | $144,898.50 |
| BitMEX (Derivative) | PYTHUSDT | $0.41 | 0.42 USDT | +1.383% | 1.07% | 0.010% | - | $24,824.87 |
| Demex (Derivatives) | PYTH_PERP.USD | $0.39 | 0.42 USD | +7.390% | 1.48% | -0.021% | - | $955.52 |
| ### Rationale |
PYTH is the newly released governance token for Pyth Network Oracle, the oracle that powered pull oracle for Synthetix Perps.
Technical Specification
The perp market required Chainlink and Pyth price feed to deployed on Optimism.
Test Cases
N/A
Configurable Values (Via SCCP)
Updated in SCCP-2063.
Copyright
Copyright and related rights waived via CC0.